Property Valuation
A broker's price opinion (BPO) is most commonly used by:
ALenders for originating new purchase mortgages
BMortgage servicers to value properties in default or for portfolio management✓ Correct
CCourts in eminent domain proceedings
DGREC to assess licensee competence
Explanation
BPOs are commonly used by mortgage servicers to estimate the value of properties in default, foreclosure, or for short sales, as a less expensive alternative to a full appraisal.
Related Georgia Property Valuation Questions
- Highest and best use in real estate appraisal means the use that is:
- A Georgia property has an annual NOI of $54,000 and a capitalization rate of 6%. What is the estimated value?
- A capitalization rate for an income property is influenced by all of the following EXCEPT:
- A 'drive-by' appraisal (exterior-only inspection) is:
- The income capitalization approach to value assumes that value is:
- The land residual technique in appraising is used when:
- In the income approach, 'contract rent' refers to:
- A Uniform Standards of Professional Appraisal Practice (USPAP) is important because it:
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